craps

Players take turns rolling two and they all bet on the same roll, regardless of who is rolling. The player rolling the dice is called the "shooter". The first roll of a new round is called the "come-out roll." All bets are based on the total of both dice together, or on the specific combination of the roll.
Craps features a plethora of bets, but the most fundamental is the "pass line" wager, which nearly all players make. On a come-out roll, the pass line bettors win when either a 7 or 11 is rolled. A 2, 3, or 12 loses, and is called "craps". When any other number (4, 5, 6, 8, 9, or 10) is rolled, it is called the point. Once a point has been set, the pass-line bettor wins if the point is rolled again, and loses if a 7 is rolled first ("seven-out"). A shooter will continue to roll (even if he/she rolls craps) until a seven-out, at which point the dice pass to the next shooter for a new come-out roll.
The opposite of a pass line bet is the "don't pass" bet, which wins on a come-out roll of 2 or 3, loses on 7 or 11, ties on 12, and goes to the point round when any other number is rolled. (In some casinos the 2 is barred and in such cases the 2 will tie but the 12 will win). In the point round the don't pass bet wins if a 7 is rolled and loses if the point is rolled. People who bet on the don't pass are called wrong bettors, while those who bet on the pass are called right bettors, only because most craps players make the pass line bet instead of the don't pass bet.
A casino craps table is run by four casino employees: a boxman who guards the chips, supervises the dealers and handles coloring out players; two base dealers who stand to either side of the boxman and collect and pay bets; and a stickman who stands directly across the table from the boxman and announces the results of each roll and then collects the dice with an elongated wooden stick. He is also in charge of managing the bets made on the center of the table (hardways, yo, horn, etc).
A new shooter, who must bet the table minimum on either the pass line or the don't pass line to play, is presented five dice by the stickman and picks two.
The dealers will usually insist that the shooter roll with one hand and that the dice bounce off the wall surrounding the table. These requirements are meant to prevent cheating attempts by players switching the dice or making a "controlled shot." If a die leaves the table, the shooter will usually be asked to select another die from the remaining three but can request using the same die if it passes the boxman's inspection. This requirement is used in an effort to reduce cheating the game by players substituting for the regulation dice.
Before the shooter begins, some casinos will allow a bet known as a fire bet to be placed. A fire bet is a bet for between 1-5 dollars in the hopes that the next shooter will have a hot streak. As points are made they will be marked on the craps layout with a fire symbol. The first three points will not pay out on the fire bet, but the fourth, fifth and sixth will pay out at increasing odds. The fourth point pays at 25-1 (a maximum of $125), the fifth point pays at 250-1 (a maximum of $1250) and the 6th point pays at 1000-1 (a maximum of $5000). Note that the points must all be different numbers for them to count towards the fire bet. A shooter who successfully hits a point of 10 twice will only garner credit for the first one on the fire bet.
The fundamental bet in craps is the pass line bet, in which one bets that the dice will pass (that is, roll the point number before rolling a 7). A pass line bet is also won if the come-out roll is a 7 or 11. The following discussion assumes that the shooter, as is usually the case, is betting on the pass line.
If a 4, 5, 6, 8, 9, or 10 is thrown on the come-out roll (i.e., if a point is set), most casinos allow pass line bettors to take odds by placing from one to five times (and at some casinos, up to 100 times) the pass line bet behind the line. This additional bet wins if the point is rolled again before a 7 is rolled (the point is made) and pays at the true odds, 2-to-1 if 4 or 10 is the point, 3-to-2 if 5 or 9 is the point, and 6-to-5 if 6 or 8 is the point. While the house has a small (1.4%) advantage on pass line bets, the house has no advantage at all on odds bets. Therefore, taking the maximum odds (which vary by casino) can lower the house percentage for any given bet down to as low as 0.5%.
Odds bets in craps are one of the few bets offered at a casino that are completely free of any house advantage. (Another such bet is the "double-up" option offered to the player in some forms of video poker after winning a hand.)
The following is an explanation of the true odds paid when a player takes "odds".